AI Enabled Smart Trackers Market will Register a Significant CAGR During Period 2020-2027
Description: The Global AI Enabled Smart Trackers Market Ecosystem was valued at US$ 3.2 Bn in 2018 and is expected to reach US$ XX Bn by 2026, growing at a CAGR of 20% during the forecast period. The internet of things is expected to drive the demand for smart tracking wearables in near future. IoT involves machine-to-machine connectivity and communication by cloud platforms, through which data generated by devices gets stored, analyzed, and captured. Wearable devices mainly include fitness wearable, real-time health monitoring wearable sensors, elderly tracker, fetal monitoring wearables, and others.
Key Players: Facebook, Apple, Garmin, Bragi, Xiaomi, Microsoft, HTC, Jabra, Fossil, Huawei, Fitbit, Google, Samsung, and others, etc.
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AI-enabled fitness trackers are expected to grow at the fastest pace during the forecast period. The AI-enabled wearable helps users track their fitness activities as well as provide guidance for food intake. Healthcare is the sector where AI-enabled wearable devices are in large demand. These wearables collect health-related data in order to monitor and provide health related awareness to the users as well as the physicians. Moreover, wearable devices for blind people for detecting obstacles on their path have also been gaining traction in recent days. The wearable developed for blind people uses ultrasounds that notify the wearer about the obstacles in order to enable to safely navigate around objects. Rising demand for AI-enabled smart Bluetooth headphones has also been one of the important factors in driving the growth of the market in recent years.
Major Players Analysis:
The major players in AI-enabled smart trackers are Facebook, Apple, Garmin, Bragi, Xiaomi, Microsoft, HTC, Jabra, Fossil, Huawei, Fitbit, Google, Samsung, and others. The players in the market are mainly focused on mergers and acquisitions, product expansion, partnerships, and other such strategies for increasing their market share. For instance, Huami, a data driven company, announced its agreement with Timex Group, a manufacturing company, in order to develop smartwatch. Owing to this agreement, Huami will combine its app design expertise and AI technology with Timex Group’s manufacturing capabilities in order to build new generation smartwatches.
The AI Enabled Smart Trackers Market Ecosystem development trends and marketing channels are analyzed. Finally, the feasibility of new investment projects are assessed and overall research conclusions offered.
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The major players operating in the Global AI enabled smart trackers ecosystem are as follows:
Table 2: AI enabled smart trackers ecosystem: Key Players
Company Ecosystem Positioning Total Revenue Industry Region
Microsoft Software provider $110.4 Billion Artificial intelligence Global
Google LLC
Software provider $136.22 Billion Artificial intelligence Global
IBM Software provider $ 79.591 Billion Artificial intelligence Global
Amazon Software provider $ 232.887 Billion Artificial intelligence Global
Apple Software provider $ 258.49 Billion Artificial intelligence Global
Major Points Covered in Table of Contents:
The introduction of smart AI-enabled rings has also been one of the factors in accentuating the growth of AI enabled smart trackers ecosystem in recent days. The artificial intelligence user interface embedded in this smart ring enables users to perform a variety of actions, such as controlling IoT devices, handling voice assistance such as Amazon Alexa, and others.
Table 1: AI enabled smart trackers ecosystem: Segmentation
Smart Trackers Type Components Deployment Technology
Smart Ring CPU Cloud Machine Learning
Smart Bluetooth Headphones GPU On-Premise NLP
Smart Fit Bands FPGA Computer Vision
Others ASIC Others
Memory
Others
Global AI enabled smart trackers ecosystem
Based on regions, North America dominated the market in 2018 and is expected to show similar trends in the coming years. Higher capita income of consumers is one the reasons behind the market growth of AI-enabled smart trackers in the region. The presence of major players such as Apple, Xiaomi, Google, and others, is also one of the important factors in driving market growth. Asia Pacific is expected to grow at the fastest pace with a CAGR of XX% during the forecast period. Increasing health-related concerns among the people in the region are driving the AI in smart tracker market in the region. At the same time, high adoption rate of smart wearables among customers in the age group of 16 to 34 years is expected to drive the AI enabled smart trackers market in the APAC region in the coming years.
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